Hilltop Holdings Inc. Purchases 12,957 Shares of Bank of America Corporation $BAC

Key Points

• Hilltop Holdings increased its Bank of America stake by 51.3% in the first quarter, buying 12,957 additional shares and bringing its total to 38,237 shares worth about $1.86 million.
• Bank of America recently raised its quarterly dividend by 14% to $0.32 per share, signaling solid capital generation and a continued focus on shareholder returns.
• The bank posted better-than-expected quarterly earnings, with EPS of $1.21 beating estimates, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $63.77.

Hilltop Holdings Inc. grew its position in Bank of America Corporation (NYSE:BAC - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,237 shares of the financial services provider's stock after acquiring an additional 12,957 shares during the quarter. Hilltop Holdings Inc.'s holdings in Bank of America were worth $1,864,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in Bank of America by 53.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,629,553 shares of the financial services provider's stock valued at $254,625,000 after purchasing an additional 1,603,080 shares in the last quarter. Legal & General Group Plc grew its position in shares of Bank of America by 3.4% during the 4th quarter. Legal & General Group Plc now owns 45,411,913 shares of the financial services provider's stock worth $2,497,655,000 after buying an additional 1,487,809 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Bank of America by 2.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,905,348 shares of the financial services provider's stock worth $159,794,000 after buying an additional 71,307 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in shares of Bank of America by 34.3% during the fourth quarter. Mondrian Investment Partners LTD now owns 2,175,401 shares of the financial services provider's stock valued at $119,647,000 after buying an additional 555,063 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Bank of America by 217.4% during the fourth quarter. International Assets Investment Management LLC now owns 327,949 shares of the financial services provider's stock valued at $18,037,000 after buying an additional 224,627 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of America

In related news, insider Geoffrey S. Greener sold 126,756 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the completion of the sale, the insider owned 1,373,397 shares of the company's stock, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Key Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America raised its quarterly dividend by 14% to $0.32 per share, a clear signal of strong capital generation and management’s commitment to shareholder returns. Bank of America hikes common stock dividend by 14%
• Positive Sentiment: The dividend boost was also highlighted in company announcements and market coverage, likely supporting sentiment that BAC’s balance sheet and earnings power remain solid. Bank of America Increases Common Stock Dividend 14% to 0.32 Per Share
• Positive Sentiment: Bank of America also continued to get attention for its investment research, including bullish calls on AI beneficiaries like Micron and Alphabet, which can reinforce the firm’s reputation and market visibility. Why BofA Thinks Micron Stock Could Be One of AI’s Biggest Long-Term Winners
• Neutral Sentiment: One report noted Bank of America’s well-known stock-market “sell signal” indicator is at its highest level since 2021, which may be seen as a cautionary macro signal rather than a direct BAC-specific issue. BofA's famed sell signal for stocks is at its highest level since 2021
• Neutral Sentiment: Additional coverage on federal debt, inflation, and global bond weakness reflects the broader macro backdrop BAC operates in, but these items do not directly change the bank’s near-term fundamentals. Trump Called Himself the ‘King of Debt.’ Now Bank of America Says the U.S. Will Spend $2 Trillion More Than It Brings In This Year

Bank of America Price Performance

Shares of BAC stock opened at $62.00 on Friday. The stock's 50-day moving average is $56.42 and its 200 day moving average is $53.36. Bank of America Corporation has a 1-year low of $44.75 and a 1-year high of $62.28. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $439.96 billion, a P/E ratio of 14.22, a PEG ratio of 0.99 and a beta of 1.17.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.08. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $30.78 billion. Bank of America had a net margin of 17.56% and a return on equity of 12.20%. The firm's revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts predict that Bank of America Corporation will post 4.65 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.32 per share. This is a boost from Bank of America's previous quarterly dividend of $0.28. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.1%. Bank of America's dividend payout ratio (DPR) is presently 25.69%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Bank of America from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada raised their target price on shares of Bank of America from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group boosted their price target on shares of Bank of America from $58.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of America in a research report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $67.00 to $70.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.77.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.

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